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Morocco Invests $32.5 Billion in green hydrogen to drive industrial decarbonization

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March 12, 2025

Morocco Invests $32.5 Billion in green hydrogen to drive industrial decarbonization

Morocco has approved an ambitious $32.5 billion investment in green hydrogen projects as part of its push to cut industrial emissions and position itself as a key supplier to Europe. This landmark initiative will accelerate the production of green ammonia, steel, and fuel, reinforcing Morocco’s commitment to renewable energy and economic growth.

Several international energy giants have been selected to lead these transformative projects. U.S.-based Ortus, Spain’s Acciona, and Germany’s Nordex will focus on green ammonia production. UAE’s Taqa and Spain’s Cepsa will play a critical role in ammonia and fuel production. Saudi Arabia’s Acwa Power will spearhead the development of green steel, while Chinese firms UEG and China Three Gorges will collaborate on ammonia projects.

These strategic partnerships highlight Morocco’s growing appeal as a hub for renewable energy investment and its ability to attract global players to drive industrial sustainability.

Strategic land allocation & EU hydrogen ambitions

Each of the approved projects will receive up to 30,000 hectares of land upon signing preliminary agreements. This aligns with Morocco’s broader vision of becoming a leading exporter of renewable hydrogen, with a goal to supply 10 million tons to the European Union by 2030 in support of the European Green Deal.

Morocco’s Prime Minister’s office affirmed the government’s commitment to advancing the green hydrogen sector, stating that the investment will significantly contribute to the country’s renewable energy ambitions while strengthening trade ties with Europe.

Morocco has steadily built a reputation as a renewable energy leader in Africa. In 2023, the country allocated 300,000 hectares for hydrogen projects powered by renewable energy sources. This led to key agreements, including a partnership between France’s TotalEnergies and the Moroccan government, as well as collaborations between Engie and Morocco’s OCP Group for green ammonia development.

Currently, renewables contribute 45% to Morocco’s energy mix, with a target to reach 52% by 2030. The newly approved green hydrogen projects are expected to play a pivotal role in achieving this milestone while reducing dependence on fossil fuels and enhancing energy security.

Morocco’s investment in green hydrogen not only advances its domestic energy transition but also sets an example for other African nations exploring sustainable industrial solutions. As Africa seeks to decarbonize its industries and strengthen clean energy exports, Morocco’s model offers valuable insights into policy direction, international partnerships, and large-scale project implementation. With global demand for green hydrogen on the rise, Morocco’s proactive approach positions it as a major player in the energy landscape, paving the way for a greener and more resilient future for Africa and beyond.

Climate Fund Managers & Infinitum partner on landmark 30MW waste-to-energy project in Sierra Leone

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March 11, 2025

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Climate Fund Managers & Infinitum partner on landmark 30MW waste-to-energy project in Sierra Leone

Sierra Leone is set to take a significant step towards sustainable energy and waste management with a pioneering 30MW waste-to-energy project in Freetown. Climate Fund Managers (CFM) and Infinitum Energy Group have secured $3.1 million in development funding from CFM’s EU-backed Climate Investor Two Fund to co-develop this transformative initiative. The project is expected to address the country’s pressing waste disposal challenges while enhancing energy access for millions.

With only 22% of its population having access to electricity, Sierra Leone faces a severe energy deficit. At the same time, unregulated urban waste is a growing crisis, contributing to environmental degradation and health risks. This project seeks to tackle both issues simultaneously by converting municipal waste into a stable renewable energy source. The facility will process 365,000 tonnes of waste annually, generating approximately 236.5 GWh of electricity. This will be supplied to the national grid under a 25-year Power Purchase Agreement (PPA) with the Electricity Distribution and Supply Authority (EDSA).

The expected benefits are multi-faceted:

-Climate impact: The project will prevent 94,000 tonnes of CO2 emissions annually by replacing fossil fuel-based energy generation.
-Economic growth: It will create 250 direct jobs and support an additional 1,500 jobs in the waste management sector.
-Public health improvements: By reducing reliance on unregulated dumpsites, the project will mitigate flood risks, limit disease outbreaks, and improve overall sanitation.

Climate Fund Managers (CFM), a leading blended finance fund manager, specializes in innovative climate solutions. Through its Climate Investor Two Fund, which is backed by the European Union, CFM supports impactful sustainable infrastructure projects across emerging markets. Infinitum Energy Group, a global renewable energy developer, brings expertise in waste-to-energy technology and public-private partnerships.

Darron Johnson, Regional Head of Africa at CFM, emphasized the importance of the initiative, stating, “This project exemplifies our commitment to scalable solutions that address climate, social, and economic challenges. By transforming Freetown’s waste into energy, we’re reducing emissions, catalyzing economic opportunities, and improving community health.”

Infinitum Energy Group’s CEO, Lindsay Nagle, echoed this sentiment, saying, “Infinitum is proud to partner with CFM on this landmark project. Leveraging proven technology and strong public-private collaboration, we’re tackling two critical challenges: waste management and energy access.”

Advancing Sustainable Development Goals (SDGs)The project aligns with Sierra Leone’s Nationally Determined Contributions (NDCs) under the Paris Agreement, demonstrating the country’s commitment to integrating waste management with renewable energy development. Moreover, the initiative directly supports multiple UN Sustainable Development Goals, including:
SDG 7 (Affordable and Clean Energy): Expanding access to renewable energy.
SDG 11 (Sustainable Cities and Communities): Promoting sustainable urban waste management.
SDG 13 (Climate Action): Reducing greenhouse gas emissions.
SDG 8 (Decent Work and Economic Growth): Creating employment opportunities in green sectors.

The development phase of the project will include detailed waste studies, environmental impact assessments, permitting, and early-stage infrastructure works to fast-track financial close. Once operational, Climate Investor Two is expected to fund up to 75% of the project’s construction equity, ensuring financial viability.

Additionally, a gender action plan and community development program will be established to ensure the project’s benefits are inclusive and equitable. Community consultations will play a vital role in tailoring solutions to local needs, ensuring that both social and environmental considerations are at the heart of the initiative.

As Africa grapples with the dual challenge of waste management and energy access, this project serves as a model for other nations looking to leverage circular economy principles. By turning waste into a valuable energy source, Sierra Leone is pioneering a sustainable infrastructure approach that could be replicated across the continent.

The collaboration between Climate Fund Managers and Infinitum Energy Group highlights the power of blended finance in driving climate-positive investments in emerging markets. By aligning financial innovation with environmental sustainability, this initiative is not just about generating electricity—it’s about transforming lives, fostering economic resilience, and paving the way for a cleaner, greener future in Africa.

UpEnergy pioneers Africa’s first electric cooking carbon credits with real-time monitoring

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March 11, 2025

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UpEnergy pioneers Africa’s first electric cooking carbon credits with real-time monitoring

In a groundbreaking move for climate finance and clean energy adoption, UpEnergy has issued Africa’s first electric cooking carbon credits under Gold Standard’s new metered methodology. This initiative ensures real-time tracking and verification of emissions reductions, setting a new benchmark for clean cooking projects on the continent.

UpEnergy’s Beyond Biomass program is revolutionizing household energy use in Africa by integrating electric cooking solutions with real-time monitoring. Currently operational in Tanzania and Uganda, and with plans to expand to Ghana and Zambia, the program aims to distribute 250,000 clean cookstoves by 2028. This will significantly cut emissions, reduce household costs, and improve public health, benefiting over 1 million people.

“At UpEnergy, quality and transparency are the cornerstones of our mission. By investing heavily in digital monitoring, we continue to uphold and elevate the highest standards of carbon credit integrity that the market demands,” said Mitch Sauers, CEO of UpEnergy.

UpEnergy’s electric pressure cookers are equipped with smart sensors that track energy consumption and greenhouse gas (GHG) reductions with precision. This innovation enhances accountability and efficiency in emissions reduction initiatives, ensuring that carbon credits are backed by verifiable data.

Key highlights of the program include:

10,000 clean cookstoves deployed, with a target of 250,000 by 2028.
Projected Verified Emission Reduction (VER) credits over the next decade.
Smart cookers store consumption data for up to 13 months, providing insights into user behavior and energy savings.

Switching from biomass to electric cooking brings transformative benefits to households and communities:

Time savings: Households save an average of 37 minutes per day in cooking time—equivalent to over nine days annually, freeing up time for other productive activities, especially for women.
Financial relief: Families reduce fuel costs by $0.26 per day in Tanzania and $0.51 per day in Uganda by cutting charcoal consumption.
Job creation: Over 180 direct and indirect jobs have been created, strengthening local economies.

“Our commitment to integrity extends beyond electric cooking. Our goal remains the same: to drive decarbonization in the Global South while supporting a just energy transition,” added Sauers.

UpEnergy is investing further in indoor air quality monitoring technology, tracking pollutants such as PM2.5 and carbon monoxide to better understand and mitigate health risks. Building on its 2024 carbon credit breakthrough, the company is also advancing fuel-efficient cookstove technology by integrating temperature sensors for more precise data collection.

By merging cutting-edge monitoring with tangible community benefits, UpEnergy is not just reducing emissions—it is reshaping the future of clean cooking in Africa.
Stay updated with Africa Sustainability Matters for more insights on innovative sustainability solutions shaping the continent’s future.

A toxic crisis in Zambia’s mining sector

Economic Responsibility

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March 10, 2025

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A toxic crisis in Zambia’s mining sector

In the heart of Zambia, the city of Kabwe stands as a stark reminder of the devastating consequences of unregulated mining. Children in the area continue to suffer severe health effects due to lead poisoning, a legacy of decades of toxic waste left behind by a former lead and zinc mine. Yet, instead of addressing this crisis, the Zambian government is permitting new hazardous mining and processing activities that exacerbate the health and environmental disaster.

The government’s issuance of mining and processing licenses to South African, Chinese, and local businesses has been widely criticized as a failure of governance. Human Rights Watch states that this decision is facilitating the continued exploitation of toxic lead waste. Companies have been extracting minerals from contaminated sites while ignoring Zambian environmental and mining laws. This reckless mining has exacerbated pollution, endangering thousands of residents—particularly children—who are highly vulnerable to lead poisoning.

Lead exposure can cause irreversible damage, including intellectual disabilities, organ failure, and even death. Pregnant women are also at high risk, with exposure leading to miscarriages and birth complications. Studies indicate that over 95 percent of children living near the former mine have dangerously high blood lead levels, with nearly half requiring urgent medical treatment.

Satellite imagery from 2024 reveals multiple waste piles scattered across Kabwe, many placed near processing companies. Without proper containment, these toxic mounds continue to poison soil, air, and water sources, intensifying the long-term health crisis.

The hazardous mining practices in Kabwe have also fueled serious labor rights violations. Small-scale and artisanal miners, including women and children, work under perilous conditions, exposed daily to toxic materials. Many of these miners, struggling to make a living, handle contaminated soil with bare hands, inhaling toxic dust without protective gear.

Despite legal provisions allowing the government to sanction companies for unsafe working environments, no action has been taken against those operating in Kabwe. The Zambia Environmental Management Agency has failed to publish environmental impact assessments for these companies or enforce regulations that would suspend hazardous operations.

Businesses have been profiting from Kabwe’s toxic waste with little regard for the community’s well-being. Some companies have removed and relocated lead-contaminated waste piles, spreading contamination to new areas. Artisanal miners report selling extracted materials to Chinese-owned processing companies, highlighting an unchecked and hazardous supply chain.

Political interests further complicate the crisis. Local cooperatives involved in waste removal have alleged ties to ruling party leaders, raising concerns about financial gains overshadowing urgent public health needs. The government’s inaction, despite multiple announcements of committees to address the contamination, underscores a pattern of negligence and failure to protect citizens.

The path to remediation: What the government must do

Calling for justice without action is futile. The Zambian government must take decisive steps to mitigate the crisis in Kabwe. Immediate actions should include:

Halting all hazardous mining activities in Kabwe until a full environmental assessment is conducted and strict regulatory measures are enforced.
Launching an urgent cleanup program in collaboration with international organizations, environmental experts, and affected communities to decontaminate soil, water, and living areas.
Providing medical assistance for affected residents, especially children, through free testing, treatment, and long-term health monitoring programs.
Holding corporations accountable by enforcing strict environmental regulations, revoking licenses for non-compliant companies, and demanding remediation funding from past and present polluters.
Supporting alternative livelihoods for artisanal miners, ensuring they have access to safer and more sustainable employment opportunities.

The government must prioritize public health over mining profits and only a full-scale remediation effort can protect future generations from the devastating effects of lead poisoning. The time to act is now—before more lives are irreversibly harmed by a crisis that has already gone on for far too long.

Liverpool FC partners with 1PointFive to offset merchandise carbon footprint

Sustainable development

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March 10, 2025

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Liverpool FC partners with 1PointFive to offset merchandise carbon footprint

Liverpool Football Club (LFC) has taken another step in its sustainability journey by collaborating with 1PointFive, a subsidiary of Occidental (Oxy) focused on Direct Air Capture (DAC) technology. This partnership will see LFC address the carbon footprint of its merchandise by purchasing DAC-based carbon removal credits, reinforcing its commitment to environmental responsibility.

The initiative aligns with LFC’s sustainability strategy, “The Red Way,” launched in 2021. This comprehensive strategy outlines ambitious goals, including a 50% reduction in operational carbon emissions by 2030, achieving net-zero status by 2040, and ensuring carbon neutrality for its merchandise from 2030 onwards.

Under the partnership, LFC will conduct a full assessment of the carbon footprint of its products—from manufacturing through distribution to club sites—and purchase an equivalent quantity of carbon dioxide removal (CDR) credits from 1PointFive. These credits will be sourced from 1PointFive’s DAC projects, which capture CO2 directly from the atmosphere and either store it permanently or utilize it in industrial applications.

Direct Air Capture is recognized by the International Energy Agency (IEA) as a vital component in the transition to a net-zero energy system. This technology extracts CO2 from the air and stores it underground or repurposes it for industrial use. Studies by the Intergovernmental Panel on Climate Change (IPCC) indicate that achieving global climate goals will require scaling up carbon removal to billions of tons annually in the coming decades, with DAC positioned to play a crucial role.

1PointFive is at the forefront of this technology, currently developing large-scale carbon removal and sequestration projects across the U.S. Among these is STRATOS, located in Ector County, Texas, which is expected to become the world’s largest DAC facility. Upon completion, STRATOS will have the capacity to capture 500,000 tonnes of CO2 annually and is projected to be commercially operational by mid-2025.

By integrating DAC-based carbon removal credits into its merchandise strategy, Liverpool FC aims to set a precedent for how sports organizations can contribute to climate action. The club’s decision to invest in DAC technology not only helps mitigate its emissions but also promotes innovative carbon reduction methods within the broader sports industry.
The Red Way: A Commitment to SustainabilityLiverpool FC’s sustainability strategy, “The Red Way,” is built around reducing environmental impact while engaging its fans, staff, and partners in collective climate action. The club has made notable progress in recent years, including implementing energy efficiency measures at its facilities, adopting more sustainable packaging for merchandise, and increasing its use of renewable energy sources.

The new collaboration with 1PointFive represents an important extension of these efforts. By addressing the carbon footprint of its merchandise, LFC is acknowledging the environmental impact of its supply chain and taking proactive measures to offset it. This move aligns with the growing trend of businesses and organizations seeking verifiable carbon removal solutions rather than relying solely on traditional carbon offsets.
The football industry, like many others, faces increasing scrutiny over its environmental impact, particularly in areas such as travel emissions, energy use, and merchandise production. Liverpool FC’s decision to integrate DAC credits into its sustainability initiatives reflects a broader shift toward transparency and accountability in corporate climate commitments.

LFC’s approach to sustainability goes beyond internal initiatives. The club is also leveraging its global reach to raise awareness about climate change and encourage fans to take part in sustainability efforts. Through strategic partnerships like this one, LFC is setting an example for other football clubs and sports organizations, demonstrating how large-scale events and merchandise production can be aligned with environmental responsibility.
The collaboration with 1PointFive also signals the increasing role of sports brands in accelerating the adoption of emerging climate technologies. While DAC technology is still in its early stages, investments from organizations like LFC can help drive further research, development, and commercialization, making these solutions more widely available and cost-effective in the long run.

As Liverpool FC works toward its 2030 carbon neutrality target for merchandise, this initiative with 1PointFive is likely just the beginning. Moving forward, the club may explore additional ways to reduce emissions at the source, such as adopting more sustainable materials, optimizing logistics to minimize transport emissions, and collaborating with suppliers that adhere to strict environmental standards.
For now, by purchasing DAC-based carbon removal credits, LFC is ensuring that its merchandise strategy contributes to a more sustainable future. As other football clubs and global brands look for effective ways to reduce their carbon footprint, Liverpool FC’s model could serve as a blueprint for integrating innovative climate solutions into commercial operations.

Africa Sustainability Forum: Harnessing sustainable finance potentials in Africa

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March 7, 2025

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Africa Sustainability Forum: Harnessing sustainable finance potentials in Africa

As Africa navigates its path toward a more sustainable future, the upcoming Africa Sustainability Forum, titled Harnessing Sustainable Finance Potentials in Africa: Opportunities, Challenges, and Actions, emerges as a pivotal event. Scheduled for March 27-28, 2025, in Johannesburg, South Africa, this forum will be one of the key G20 side events, drawing global and regional leaders to discuss how finance can drive Africa’s green transition.

Africa stands at a critical juncture where sustainable finance must be leveraged to drive economic growth while ensuring environmental and social resilience. The continent faces a unique set of challenges and opportunities in achieving its green finance ambitions. This forum seeks to foster dialogue, create synergies, and propose tangible solutions that can scale up sustainable finance initiatives across Africa.

The forum promises to be a dynamic platform featuring high-level keynote speeches and insightful panel discussions on crucial topics such as policy frameworks, sustainability disclosure, energy transition, blended finance, carbon markets, and climate adaptation. The event’s agenda is carefully designed to explore opportunities and challenges within Africa’s sustainable finance landscape and propose actionable strategies to foster long-term growth.

In recent years, Africa has made significant strides in integrating sustainable finance into its development agenda. Countries are adopting green taxonomies, sustainability disclosure requirements, and carbon pricing mechanisms to attract investors looking for ESG-compliant opportunities. However, challenges such as inadequate financing structures, policy misalignment, and a lack of data transparency continue to hinder progress. The forum will address these issues head-on, providing a much-needed platform for knowledge exchange and collaboration.

Highlights of the forum

Site visit: A firsthand look at a pioneering local sustainable project, offering a glimpse into best practices that drive Africa’s green transition.
Networking opportunities: Engage with a diverse group of 250 policymakers, financial leaders, investors, and industry experts, fostering collaborations that lead to impactful change.
Knowledge sharing: Gain practical insights to strengthen the sustainable finance ecosystem and advance Africa’s development agenda.
Actionable solutions: Discussions will lead to concrete recommendations for governments, businesses, and financial institutions to mobilize sustainable capital.

Event details

Dates: March 27-28, 2025
Location: Johannesburg, South Africa
Venue: Ballroom, Gallagher Convention Centre, 19 Richards Dr, Midrand, Johannesburg
Format: In-Person & Online (Live Streaming) – Registration required for both
Organizers: Capacity-building Alliance of Sustainable Investments (CASI), South African Reserve Bank (SARB), National Treasury, and UN Trade and Development (UNCTAD)
Knowledge Partner: WWF
Supporting Organisation: Risk Insights

Key topics driving the discussion

Policy frameworks: How taxonomies and regulatory policies can shape investments and harmonize sustainability policies across Africa. Governments across the continent are increasingly integrating green taxonomies and sustainable finance guidelines into their economic policies, aiming to standardize practices and attract responsible investments.

Sustainability disclosure: Practical guidance on aligning with international reporting standards and overcoming corporate reporting challenges. Companies are expected to demonstrate transparency in their ESG commitments, but many lack the capacity or guidance to do so effectively. The forum will explore ways to bridge these gaps.

Energy transition: Strategies to scale up renewable energy investments and accelerate Africa’s shift towards sustainable energy solutions. With Africa’s vast renewable energy potential, transitioning to cleaner energy sources will be crucial in reducing carbon emissions and ensuring energy security.

Blended finance for green industrialization: Exploring innovative financial instruments like transition bonds and sustainability-linked financing. Many sustainable projects struggle to secure funding due to perceived risks, making blended finance a key tool in bridging the gap between public and private sector investments.

Carbon markets: Unlocking the potential of carbon trading as a mechanism to cut emissions and stimulate economic growth. The forum will delve into the opportunities and challenges of developing robust carbon markets in Africa, considering both compliance and voluntary market structures.

Climate adaptation & resilience: Funding solutions to mitigate climate risks and enhance resilience across Africa’s economies and communities. Climate change disproportionately affects Africa, necessitating urgent investments in adaptation measures to protect vulnerable populations and ecosystems.

The urgency to scale up sustainable finance initiatives in Africa cannot be overstated. Africa is projected to require $2.8 trillion in financing by 2030 to meet its climate goals under the Paris Agreement. Yet, financial flows into sustainability-focused projects remain far below the required levels. The forum will address this financing gap, bringing together key stakeholders to discuss how to attract investment, reduce risks, and create financial structures that benefit both investors and communities.

The participation of government agencies, development finance institutions, investors, and sustainability professionals will ensure a holistic discussion on how to advance Africa’s green finance agenda. The forum will highlight success stories from across the continent, showcasing case studies where sustainable finance has led to economic and environmental gains.

As Africa works towards achieving the UN Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063, sustainable finance will play a crucial role in unlocking development potential while ensuring resilience to climate change. Whether you are an investor looking for ESG-aligned opportunities, a policymaker shaping sustainability regulations, or a business seeking guidance on sustainability disclosure, this forum offers an unmissable opportunity to engage with thought leaders and innovators in the field.

Africa’s Green Economy Summit (AGES) Showcases Investment and Innovation in Climate Action

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March 6, 2025

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Africa’s Green Economy Summit (AGES) Showcases Investment and Innovation in Climate Action

The Africa Green Economy Summit (AGES), held in Cape Town, emerged as a pivotal platform for accelerating climate finance and innovation across the continent. From ambitious mangrove restoration projects to discussions on unlocking private sector investment, the event spotlighted Africa’s untapped potential in driving a sustainable future.

Scaling climate solutions: Mangroves and carbon markets Among the standout initiatives was Vlinder, a Kenya-based project working to restore 4.2 million mangrove trees, with the potential to sequester over 900,000 tCO2e within 30 years. Vlinder’s participation underscored the growing role of nature-based solutions in Africa’s climate resilience.

“Pricing nature is a game-changer,” said Robin Bartmann, Vlinder’s COO. “Mangroves remove carbon at rates 10 times higher than terrestrial forests, making them invaluable in the fight against climate change.”

The Summit also featured a masterclass on carbon markets, where experts highlighted Africa’s need to build capacity and attract investors into sustainable projects that not only mitigate emissions but also enhance biodiversity and livelihoods.

Bridging the climate finance gap Despite Africa’s vast green investment opportunities, financing remains a major challenge. According to Barbara Buchner of the Climate Policy Initiative, the continent currently receives less than 4% of global climate finance, with private sector participation still lagging at just 18%.

However, optimism prevailed. “Africa is at a unique crossroads,” said Anthony Nyong, Director of Climate Change and Green Growth at the African Development Bank. “If we strategically position ourselves, we can channel much-needed investments into climate-smart initiatives.”

Sanlam Investments CEO Carl Roothman reinforced this sentiment, describing the current global focus on green finance as a once-in-a-lifetime opportunity for Africa to attract capital at an unprecedented scale.

Women at the forefront of the green transition A key theme at AGES was the role of women in shaping the green economy. The WomenIN Coffee Connect session, led by South Africa’s Deputy Minister for Public Service and Administration, Pinky Kekana, emphasized the need for inclusive economic transformation.

“The transition to a green economy is not just an environmental necessity—it’s an economic imperative,” Kekana stated. “Women must be empowered as innovators, investors, and decision-makers to drive real change.”

Sustainable agriculture and food systems The summit also highlighted innovative nature-based agricultural practices, including a case study from Farmer Angus, a regenerative carbon farmer in South Africa who has pioneered carbon credit sales from sustainable farming. Similarly, Mozambique’s Chicoa Fish Farm showcased its net-zero approach to tilapia farming, demonstrating how sustainable aquaculture can enhance food security while reducing emissions.

Data: The missing link in climate finance A recurring challenge in Africa’s green finance landscape is the lack of data to support investment decisions. “We need to prioritize big data,” said Bianca Gichangi, Africa Lead at the Voluntary Carbon Market Integrity Initiative (VCMI). “Without it, we struggle to build a credible pipeline of bankable projects.”

Experts agreed that investing in data-driven climate solutions is crucial for attracting investors and ensuring long-term impact. As John Roome, a former World Bank sustainability expert, pointed out: “The private sector needs confidence. Without data, we cannot provide the evidence required to unlock finance at scale.”

Looking ahead AGES reinforced that Africa’s transition to a green economy is both urgent and promising. While challenges persist—particularly in financing and data accessibility—the event showcased a strong momentum toward sustainable development. The resounding message? Africa is not just a recipient of climate finance but a key player in shaping the global green economy.

As investors, policymakers, and entrepreneurs rally around climate solutions, AGES serves as a beacon of what is possible when innovation, policy, and finance converge to create meaningful impact.

Sustainable Finance Awards 2025

Economic Responsibility

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March 5, 2025

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Africa is at a pivotal moment in its development, with sustainability and financial innovation shaping the future of its economies. The United Nations estimates that the continent’s population will double by 2070, having recently surpassed 1.5 billion people. Yet, despite its economic potential, Africa faces significant infrastructure and resource gaps—about 600 million people lack reliable electricity, 411 million do not have access to basic water services, and 839 million lack basic sanitation, according to the 2022 WHO/UNICEF Joint Programme Monitoring Report on Water, Sanitation, and Hygiene. Bridging these gaps requires sustainable financing, and African banks are leading the way with innovative funding solutions.

Across the continent, financial institutions have prioritized environmental, social, and governance (ESG) concerns. Progress in sustainability disclosure and regulatory frameworks is evident, with the Absa Africa Financial Markets Index 2024 reporting that 23 out of 29 evaluated countries improved their sustainability scores. Market infrastructure, climate-focused regulations, and a growing investor base have further diversified sustainability-linked financial products, creating new opportunities for impact-driven investments.

This year’s Sustainable Finance Awards highlight the banks driving Africa’s transition towards sustainability. The winning institutions have pioneered groundbreaking deals, expanding access to essential services while championing responsible finance.

Standard Bank Group : Best Bank for Sustainable Finance, Best Bank for ESG-Related Loans, Best Bank for Transition/Sustainability-Linked Loans

Standard Bank Group has emerged as a leader in financing Africa’s sustainability transition. The bank has structured landmark deals that support renewable energy, green buildings, affordable housing, infrastructure, education, and financial inclusion.
In 2024, Standard Bank facilitated sustainability-linked loans and bonds worth R219.9 billion ($11.9 billion). These facilities are tied to key performance indicators (KPIs) such as emission reductions, renewable energy adoption, and diversity and inclusion. Notably, the bank partnered with Old Mutual on a R5.25 billion sustainability-linked syndicated term debt package, supporting projects across South Africa, Namibia, and Kenya.
Its role in Africa’s energy transition is substantial. The bank financed Seriti Green’s Mpumalanga wind project, which will supply 75% of coal mining operations’ energy needs while accelerating decarbonization. Additionally, Standard Bank structured the debt financing for Scatec’s Mogobe battery energy storage system—one of the largest standalone dispatchable storage facilities in Africa.

Absa : Sustainable Finance Deal of the Year, Best Impact Investing Solution

Absa has positioned itself as a key driver of financial inclusion and climate action, facilitating over R112 billion in sustainability-linked financing across multiple sectors.
A standout transaction is the Tanga Water Infrastructure Green Revenue Bond, which earned Absa the Sustainable Finance Deal of the Year award. This pioneering bond supports Tanzania’s water infrastructure expansion in Tanga City, ensuring increased clean water access. It is also the first green bond issued by a state-owned water utility in Tanzania, cross-listed on the Dar Es Salaam Stock Exchange and the Luxembourg Green Exchange.

Additionally, Absa partnered with Norsad Capital to raise R400 million in sustainability-linked funding for Botswana. This financing will empower businesses advancing financial inclusion and job creation, particularly for women and youth in sub-Saharan Africa.

Rand Merchant Bank (RMB): Best Bank for Sustainable Infrastructure/Project Finance, Best Bank for Green Bonds, Best Bank for Social Bonds
Rand Merchant Bank (RMB) has established itself as a leader in sustainable infrastructure financing, leveraging innovative funding mechanisms to drive impactful projects.
One of its key achievements includes the Envusa energy-trading platform, which is accelerating the decarbonization of Anglo American Group’s South African operations. This project will scale renewable energy capacity from 28 GW in 2015 to 60 GW by 2030, supporting the mining sector’s transition.

RMB also played a crucial role in issuing FirstRand’s second green bond in October 2023. This R3.4 billion bond includes a penalty mechanism for funds not allocated to green projects within 24 months, reinforcing accountability.
Additionally, RMB structured Namibia’s first social bond for Letshego Holdings Namibia. This oversubscribed issuance will fund financial inclusion initiatives for low- and middle-income individuals, microenterprises, and SMEs.

CIB: Best Bank for Sustainable Financing in Emerging Markets, Best Bank for Sustainability Transparency
CIB’s sustainability strategy is deeply embedded in its policies, ensuring that ESG principles are integrated across all operations. The bank’s Sustainable Finance Policy—updated in 2024—aligns with emerging climate finance trends and supports responsible investment.

CIB is a founding signatory of the UN Principles for Responsible Banking, the Net Zero Banking Alliance, and the UN Commitment to Financial Health and Inclusion. Its commitment to transparency is reflected in reports aligned with the Taskforce on Climate-Related Financial Disclosures (TCFD) and the Equator Principles.

The bank also joined the Green Economy Financing Facility (GEFF) in partnership with the European Bank for Reconstruction and Development. Through GEFF, CIB will finance renewable energy, sustainable land management, water efficiency, and resource optimization projects, with seven initiatives currently in the pipeline.

BRED Madagasikara : Best Bank for Sustainable Bonds, Best Bank for Sustaining Communities
BRED Madagasikara (formerly Societe Generale Madagasikara) is at the forefront of sustainable finance in the Indian Ocean region, leveraging its financial expertise to promote environmental and social progress.

The bank issued Madagascar’s first sustainable bond, financing renewable energy projects, job creation, and microfinance solutions. It also became the first issuer of a local currency bond, mitigating currency fluctuation risks.

Beyond finance, BRED Madagasikara has deepened its social impact through initiatives like Soàva, a health insurance product in partnership with ARO Insurance. This program provides cashback on healthcare fees, improving medical access for over 6,000 subscribers.
Environmental sustainability remains a priority, with the bank leading reforestation efforts, funding education programs, and supporting NGO Inviso in combating malnutrition. Notably, it established a school vegetable garden, educating students on agriculture while providing food security for vulnerable families.

The 2025 Sustainable Finance Awards celebrate African financial institutions that are redefining banking through responsible finance. Their efforts are bridging critical gaps in energy, water, sanitation, housing, and economic inclusion, proving that finance can be a catalyst for sustainable growth across the continent.

IPCC outlines key contributions for the seventh assessment report

Economic Responsibility

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March 4, 2025

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IPCC outlines key contributions for the seventh assessment report

The Intergovernmental Panel on Climate Change (IPCC) has finalized the outlines for its three Working Group contributions to the upcoming Seventh Assessment Report (AR7) following the conclusion of its 62nd Plenary session in Hangzhou, China. The session also saw the approval of the IPCC’s budget for 2025, marking a significant milestone in the organization’s efforts to advance climate science and policy guidance.

“Despite the extensive agenda, the Panel successfully achieved consensus on the scope of AR7. This clarity allows us to initiate the selection of author teams and begin drafting the report,” said IPCC Chair Jim Skea.
With this agreement, governments, observer organizations, and IPCC Bureau members will proceed with nominating experts to serve as authors for the AR7 contributions. The outlines set the foundation for the comprehensive scientific assessments that will inform global climate policies.

Key components of the Seventh Assessment Report

The AR7 will consist of three Working Group contributions:
Working Group I – Assessing the physical science basis of climate change.
Working Group II – Evaluating climate change impacts, adaptation, and vulnerability.
Working Group III – Examining climate change mitigation strategies.

A Synthesis Report, which will integrate findings from all three Working Groups along with a Special Report produced during the assessment cycle, will be finalized in the second half of 2029.
Additionally, the Panel previously approved the development of specialized reports, including:

A Special Report on Climate Change and Cities, scheduled for release in March 2027.
A Methodology Report on Short-lived Climate Forcers, expected in late 2027.
A Methodology Report on Carbon Dioxide Removal Technologies and Carbon Capture Utilization and Storage.
A revision of the 1994 IPCC Technical Guidelines on impacts, adaptation indicators, and metrics.

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Trump shuts down Power Africa, an Initiative to expand electricity access in Africa

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March 4, 2025

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Trump shuts down Power Africa, an Initiative to expand electricity access in Africa

The Trump administration has terminated Power Africa, a U.S. initiative launched in 2013 under President Barack Obama to enhance electricity access across Africa. This decision aligns with broader federal budget cuts aimed at reducing government spending.

Power Africa, managed by the U.S. Agency for International Development (USAID), aimed to bring electricity to tens of millions of African households, addressing critical infrastructure gaps across the continent. Since its inception, the program received just over $1 billion from the U.S., which facilitated approximately $29 billion in power project financing from other sources. These funds supported the development of renewable energy projects—including geothermal, hydro, wind, and solar power—and expanded power generation and transmission across Africa.

The termination of Power Africa has led to significant staff layoffs, with most programs marked for closure. Some initiatives, particularly those connecting projects with U.S. companies, may continue under different government agencies. A State Department spokesperson noted that the decision is part of a broader effort to reassess aid programs based on national interests, stating that programs serving U.S. interests will continue, while those that do not will be discontinued.

Power Africa was previously managed under USAID, the U.S. government’s foreign aid agency. It has now become one of the first high-profile casualties of federal budget cuts led by the Department of Government Efficiency, which is overseen by billionaire entrepreneur Elon Musk. This move is part of a larger restructuring effort targeting various federal aid programs for cost-cutting measures.
The closure of Power Africa marks a significant shift in U.S. foreign aid policy and raises concerns about the future of electricity access initiatives across Africa, where more than 600 million people—approximately 43% of the population—still lack reliable access to electricity.
Efforts to seek further clarification from the U.S. State Department were unsuccessful, as requests for comment remained unanswered at the time of reporting.

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Trump shuts down Power Africa, an Initiative to expand electricity access in Africa